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Trendlyne Marketwatch
19 Oct 2026, 04:02PM
Market closes lower amid banking sector weakness
By Trendlyne Analysis

Nifty 50 closed at 22,888.95 (-257.2, -1.1%), BSE Sensex closed at 73,852.90 (-876.4, -1.2%) while the broader Nifty 500 closed at 22,041.60 (-228.5, -1.0%). Market breadth is overwhelmingly negative. Of the 2,851 stocks traded today, 625 were in the positive territory and 2,166 were negative.

Indian indices closed lower as weak quarterly earnings from major private banks weighed on sentiment. The Indian volatility index, Nifty VIX, rose 5.1% and closed at 14.8 points. Axis Bank fell after its Q2FY27 net profit missed Forecaster estimates by 1.5% due to higher interest and employee benefits expenses.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. BSE Housing Finance Index and Nifty Private Bank are among the top index losers today. According to Trendlyne’s sector dashboard, Diversified Consumer Services emerged as the worst-performing sector of the day, with a fall of 2.1%.

Asian markets closed mixed. European markets traded with varied trends. US index futures traded higher, indicating a positive start to the trading session. Investors await quarterly results from major US companies, including Meta and Tesla, later this week. Meanwhile, an oil tanker caught fire and exploded after hitting a naval mine in the Strait of Hormuz, according to the navy of Iran’s Islamic Revolutionary Guard Corps.

  • Relative Strength Index (RSI) indicates that stocks like Sky Gold & Diamonds and Shreeji Shipping Global are in the overbought zone.

  • UltraTech Cement is falling as its Q2FY27 net profit misses Forecaster estimates by 5% due to higher raw materials, employee benefits, finance, power & fuel and freight costs, despite growing 21.3% YoY to Rs 1,493.8 crore. Revenue jumps 18.4% to Rs 23,406 crore, fueled by wider distribution. It shows up in a screener of stocks near their 52-week lows.

  • HFCL soars to its 5% upper circuit as its Q2FY27 net profit surges 5.3x YoY to Rs 362.9 crore, fueled by lower inventory expenses and a richer mix. Revenue climbs 143.2% to Rs 2,569.3 crore, boosted by strong demand for AI infrastructure, hyperscale data centres and telecom networks. It features in a screener of stocks with prices above their short-, medium- and long-term moving averages.

  • Natco Pharma rises after launching Carboplatin Injection, a generic version of Paraplatin, in the US through its subsidiary, Natco Pharma USA. The launch, in collaboration with Teyro Labs, addresses a critical shortage of the cancer drug in the US, where the product had estimated annual sales of $27.8 million as of June 2026.

  • PC Jeweller soars as Hrti and Jump Trading Financial India buy 30.7 crore shares for Rs 496.9 crore through bulk deals at an average price of Rs 16.2 per share.

  • Utssav CZ Gold Jewels' board of directors schedules a meeting for October 23 to consider a proposal for a bonus issue of equity shares.

  • Jio Platforms’ IPO reportedly attracts institutional bids worth Rs 2.5 lakh crore, with its Rs 8,110 crore anchor book subscribed over 30 times. Major participants include global asset managers such as BlackRock, Fidelity and T. Rowe Price, alongside sovereign wealth funds including GIC, ADIA, QIA and Norges Bank.

  • BoB Capital Markets downgrades Federal Bank to a 'Hold' call with a target price of Rs 362 per share. This indicates a potential upside of 3.3%. The brokerage believes that the recent price gains limit upside, while an uncertain NIM outlook and rising cost of deposits (CoD) may constrain return ratios. It expects the bank to deliver a net interest income (NII) CAGR of 17.4% over FY27-29.

  • Jupiter Life Line Hospitals secures a Rs 500 crore term loan from HDFC Bank to fund its future capital expenditure requirements. The hospital chain submits its Dombivli and Pune hospitals as collateral for the loan.

  • Union Bank of India is rising sharply as its Q2FY27 net profit jumps 30.3% YoY to Rs 5,537.2 crore, boosted by a 49.8% drop in provisions. Revenue increases 5.2% to Rs 32,809.3 crore, fueled by improvements in the retail and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 87 bps and 13 bps, respectively.

  • GPT Infraprojects' management notes that the company remains on track to achieve its Rs 3,000 crore order target for FY27. It expects government announcements to translate into orders soon and a West Bengal order within the next two months. The company targets 40% growth in its high-value business segment in FY28 but will reassess FY27 guidance after Q3 results.

  • Power Mech Projects secures an order worth Rs 327.4 crore from Vedanta Aluminium Metal for operations and maintenance of a 220 MW coal-fired co-generation power plant in Lanjigarh, Odisha.

  • YES Bank is falling as its Q2FY27 net interest income (NII) misses Forecaster estimates by 38.4% due to higher interest expenses despite growing 23% YoY to Rs 2,822.3 crore. However, net profit jumps 65% to Rs 1,080 crore, thanks to lower provisions. The bank's asset quality improves as its gross and net NPAs decline by 40 bps and 10 bps, respectively.

  • Vedanta doubles its South Africa zinc production capacity to 5 lakh tonnes per annum with a capex of $600 million (~Rs 5,686.2 crore). This is part of the $1.5 billion (~Rs 14,216 crore) commitment made by Vedanta to invest in the region.

  • Emkay Global notes that Jio had a total customer base of 533.3 million as of June 2026, accounting for nearly half of India’s wireless market and over 42% of the fixed broadband segment. Home broadband, 5G monetisation, enterprise services and global expansion of its proprietary telecom technologies could drive future growth, shaping investor sentiment ahead of Jio Platforms’ IPO.

  • ACME Solar Holdings' subsidiary, ACME Greentech Twenty, secures a power purchase agreement (PPA) from Solar Energy Corp of India (SECI) for ACME's 300 MW firm & dispatchable renewable energy (FDRE) solar project. Under the PPA, ACME will supply power to SECI at a tariff of Rs 6 per unit. The deal raises ACME’s contracted portfolio under construction to 4,310 MW out of its total construction capacity of 5,380 MW.

  • Zen Technologies is falling after a fire breaks out at the Hyderabad production centre of its subsidiary, Unistring Tech Solutions. The fire damaged two testing chambers and equipment, with preliminary losses estimated at up to Rs 4 crore.

  • Sugar stocks like Balrampur Chini Mills, Bajaj Hindustan Sugar and Shree Renuka Sugar are falling sharply as the Central Government directs oil marketing companies (OMCs) to reduce sugar diversion ?for ethanol production to zero over 2026-27. The move is aimed at increasing the domestic availability of sugar but limits sugar companies' ability to shift cane and molasses between sugar and ethanol production depending on market conditions, potentially weakening margins.

  • G Ramesh, MD & CEO of HDB Financial Services, anticipates a stronger H2FY27, with disbursement growth expected to accelerate following a subdued Q2 impacted by monsoons and festive disruptions. He expects AUM to grow at a mid-teens pace while maintaining NIMs in the 8–8.1% range through loan repricing and an optimized borrowing mix.

  • Larsen & Toubro is rising as it secures an order worth over Rs 15,000 crore for the New Tashkent International Airport in Uzbekistan. The project includes construction of the passenger terminal and associated infrastructure, designed to handle around 17 million passengers annually.

  • LTM is falling as its Q2FY27 net profit drops 4.7% QoQ to Rs 1,397.9 crore due to higher employee benefits and subcontracting expenses. However, revenue grows marginally by 0.3% to Rs 11,899.1 crore, as a weakness in the technology & services segment offsets strong traction in the financial services, consumer and production segments. It shows up in a screener of stocks with declining net cash flow.

  • Axis Bank is falling sharply as its Q2FY27 net profit misses Forecaster estimates by 1.5% due to higher interest & employee benefits expenses, despite growing 37.6% YoY to Rs 7,003.3 crore. Revenue jumps 14.2% to Rs 42,949.3 crore, helped by improvements in the treasury operations, corporate and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline by 30 bps and 9 bps, respectively.

  • Anuraag Bhatnagar, CEO of The Leela Palaces Hotels & Resorts, projects FY27 revenue of Rs 2,000 crore and EBITDA of Rs 1,000 crore, with operating margins expected to remain in the 48–51% range. The company’s high-margin, members-only club, Arq, is expected to generate nearly Rs 100 crore in near-term revenue, with an EBITDA conversion rate of 80%, supporting growth in diversified non-room income. Looking ahead, The Leela aims to double its FY27 revenue by FY30 and achieve an EBITDA target of Rs 2,000 crore.

  • Punjab National Bank (PNB) is rising sharply as MD & CEO Ashok Chandra projects retail loan growth of 17-18% and micro, small and medium enterprise (MSME) credit growth of 21% in Q3FY27, supported by higher demand in the festive season. Separately, PNB's net profit climbs 12.8% YoY to Rs 5,532.2 crore in Q2FY27, owing to lower employee benefits expenses and provisions. Revenue increases 5.4% to Rs 38,185.4 crore, helped by improvements in the retail and corporate banking segments.

  • Urban Co is falling sharply as its Q2FY27 net loss expands 3.1x YoY to Rs 182.5 crore due to higher inventory, employee benefits and depreciation & amortisation expenses. However, revenue jumps 40.2% to Rs 578.5 crore, supported by new customer additions, native products business expansion, and international & domestic demand. Separately, its board of directors approves a Rs 2,500 crore fundraise by issuing equity shares or other securities.

  • Power Grid Corp is rising as it emerges as the successful bidder for the 765kV GIS Pune West transmission project in Maharashtra, with annual transmission charges of Rs 199.6 crore. The project includes a new substation and transmission lines. With this win, Power Grid has secured 10 TBCB transmission projects in FY27, with cumulative annual transmission charges of Rs 7,863.6 crore.

  • HDFC Bank's Q2FY7 net profit rises 4.7% YoY to Rs 19,510 crore. Revenue increases 8.9% to Rs 83,426.6 crore, driven by improvement in the retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 13 bps and 5 bps, respectively.

  • Nifty 50 was trading at 23,153.25 (7.1, 0.0%), BSE Sensex was trading at 74,849.30 (120.0, 0.2%), while the broader Nifty 500 was trading at 22,273.60 (3.6, 0.0%).

  • Market breadth is in the red. Of the 2,289 stocks traded today, 811 were on the uptrend, and 1,396 went down.

Riding High:

Largecap and midcap gainers today include Union Bank of India (180.70, 5.3%), Punjab National Bank (121.90, 4.8%) and Bank of Baroda (238.20, 3.4%).

Downers:

Largecap and midcap losers today include Axis Bank Ltd. (1,236, -4.2%), Suzlon Energy Ltd. (40.38, -3.9%) and Info Edge (India) Ltd. (1,220, -3.6%).

Movers and Shakers

12 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Union Bank of India (180.70, 5.3%), Punjab National Bank (121.90, 4.8%) and Federal Bank Ltd. (348.85, 3.2%).

Top high volume losers on BSE were Urban Company Ltd. (141.60, -10.5%), Himadri Speciality Chemical Ltd. (600, -9.2%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,257.30, -6.5%).

India Cements Ltd. (295.10, -2.4%) was trading at 14.2 times of weekly average. Gabriel India Ltd. (1,494, 3.1%) and Capri Global Capital Ltd. (244, -1.4%) were trading with volumes 14.2 and 11.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks overperformed with 52 week highs, while 28 stocks tanked below their 52 week lows.

Stocks touching their year highs included - PVR INOX Ltd. (1,401.60, 0.0%), Laurus Labs Ltd. (2,069, 0.4%) and Shyam Metalics and Energy Ltd. (1,230.10, 2.6%).

Stocks making new 52 weeks lows included - Britannia Industries Ltd. (4,705, -1.2%) and EID Parry (India) Ltd. (672.50, -3.1%).

10 stocks climbed above their 200 day SMA including Union Bank of India (180.70, 5.3%) and Jammu & Kashmir Bank Ltd. (139.30, 3.7%). 25 stocks slipped below their 200 SMA including Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,257.30, -6.5%) and Tejas Networks Ltd. (448, -5.6%).

 
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The Baseline
17 Oct 2026
Pre Monday: Against all expectations, IT is back

The Nifty gained 2.8% this week while MSCI’s Asia-Pacific index excluding Japan, lost 5.8%. That’s quite a recovery. The rebound in Indian IT stocks (which have struggled under the twin shadows of AI and Trump’s H1B crackdown) gave the market a big boost. 

I am not here to announce, ‘India is back, baby’, considering inflation, the US Iran war and Saudi’s refineries turning into target practice for the Houthis. India’s outlook continues to be a mixed bag. Still, amid the thaali of risks, a strong performance for the Indian index has come just as the AI bet globally is starting to wobble. 

1. Seesaw: India’s AI problem switched sides

You know that old movie trope of the shy librarian girl taking off her glasses and becoming the star of the show? This week, Indian IT companies like TCS and HCL Tech took off their glasses, and delivered a comeback in share prices with strong Q2 results. Claims of the death of Indian IT with the rise of AI turned out to be greatly exaggerated. 

On the other hand, Indian companies indirectly linked to AI (via optical cables and data centers), fell sharply. Optical fiber manufacturers Sterlite Technologies and HFCL, and MTAR Tech, which is a clean energy supplier for data centers, each hit lower circuits on Thursday, even as the IT index gained 1.8%.

Sterlite Tech has been the Nifty500’s top performer, rising a blistering 800%+ this year. Foreign ownership in these AI-linked players have also been steadily rising. 

The market cue: A retreat from AI enthusiasm globally could help IT services while hurting these already very expensive AI-infrastructure proxies. The relative performance of these two groups of Indian ‘tech stocks’ will be interesting to watch if the AI bubble pops in the US. 

2. Jio wants $3.2 billion, mainly to repay its debts

Jio Platforms has set its IPO price band at Rs 1,065–1,119, valuing the company at  $108.3 billion. The $3.2 billion offering opens on October 21, with institutional anchor bidding on Monday.

At that valuation, Jio would become India's fourth most valuable listed company. Its 533 million subscribers and 60% share of India's data traffic are extraordinary assets.

But Jio has arrived with its debts in hand, and the IPO is a repayment plan. The company plans to use up to 90% -  $2.89 billion of the $3.2 billion IPO proceeds - to repay its telecom borrowings. Its prospectus also acknowledges that data protection regulations could limit  its ambitions to monetise user data through advertising and digital services.

The market cue: Watch institutional demand and the implied valuation of Reliance Industries. Will investors happily absorb another enormous offering? For now based on the grey market premiums, the answer is 'yes'.

3. Corporate India's costs are rising a lot faster than consumer prices

India's September wholesale inflation hit 11.4%, way above economists' 10.18% forecast. And manufactured product inflation reached 9.76%. ICRA says non-food manufacturing accounted for more than half the increase in headline wholesale inflation.

Companies are paying much more for inputs, while retail price increases are relatively restrained. The limits on how much companies can pass through cost increases is set to impact margins in Q2 and especially Q3. Jefferies expects 62% of companies in its earnings coverage to report YoY margin declines in Q2.

The market cue: Watch autos, paints, chemicals, consumer goods and industrials for evidence that costs are being passed on to customers. The companies worth following are those growing volumes without sacrificing margins. Revenue growth is great. Revenue growth with rising profits is even better.

4. SEBI backs down, and it’s especially good news for one industry

SEBI’s settlement reversal could change earnings expectations for stock market brokers. From December 7, expiring derivatives will again be settled using volume-weighted prices from the final 30 minutes of regular trading, a U-turn from the recent SEBI change of using closing-auction prices.

Jefferies notes that India’s stock market brokers could benefit more than exchanges. Its assessment is that broker order activity remains below pre-auction levels, while exchange premium turnover has already recovered. 

The market cue: Look for earnings upgrades for India’s brokers, as the derivatives trade tries to recover from the regulation driven slump. 

Heard on the street

Bloomberg reports that Jio attracted more than $20 billion in pre-IPO bids, quoting sources. It also described investors pressing management to lower the IPO valuation during roadshows, against earlier expectations that had reached $170 billion. The lower $108 billion valuation has reportedly attracted plenty of interest from institutional investors, and the grey market premium is around Rs. 230.

Reliance finally broke its silence on Elon Musk's allegations. The earlier attacks from Musk on X had him addressing Ambani as “Prime Minister Ambani” while alleging the Reliance Chairman's interference with Starlink’s launch. Reliance responded on Friday saying that it 'welcomed competition' and that its own satellite service also awaited clearance. Musk then replied: “Much appreciated”. 

Musk comes across as the guy who likes to have his fights out on the lawn, instead of inside his house.

Burn your demons next week, 
The Trendlyne team 

Disclaimer: This newsletter is for informational purposes and should not be construed as financial advice. Please consult your financial advisor before making any investment decisions.

 
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The Baseline
16 Oct 2026
Five Interesting Stocks Today - October 16, 2026
By Trendlyne Analysis

1. Transformers & Rectifiers (India):

This transformer manufacturer rose 14.9% on October 14 after reporting strong Q2FY27 results. Revenue jumped 60.7% YoY, while net profit more than doubled. EBITDA margin expanded 621 basis points to 17.4%, as the Moraiya plant in Gujarat accelerated order deliveries and boosted capacity utilisation.

The company’s order book reached Rs 7,237 crore, a 32% jump that equals nearly three times its FY26 revenue. Management plans to clear this backlog within 18 to 24 months. TARIL also has an inquiry pipeline of about Rs 21,000 crore, although historically only 10–15% of inquiries convert into orders.

To tackle this massive backlog, TARIL is expanding its Changodar facility. The project will lift plant capacity to roughly 35,000 megavolt-amperes (MVA) and push total company capacity past 75,000 MVA. While management targets $1 billion (~Rs 9,500 crore) in annual revenue by FY30, InCred estimates current capacity can support only Rs 6,000–6,500 crore in revenue. This suggests the company must build more capacity or enter new business lines to hit its goal.

TARIL is also breaking into the nuclear power sector. In Q2, the company secured orders to build generator transformers for NPCIL’s Kaiga Units 5 and 6. This milestone unlocks substantial long-term potential as India works to scale its nuclear capacity from 8.8 GW to 100 GW by 2047.

Raw-material shortages remain a challenge, forcing TARIL to hold higher inventories and tying up cash. To reduce dependence on suppliers, the company is bringing copper conductors, bushings and transformer tanks in-house. “We are looking at around 100-300 bps margin expansion through this backward integration,” said CFO Mehul Shah.

ICICI Direct upgrades TARIL to ‘Buy’ from ‘Reduce’, with a target price of Rs 430, implying 30.4% upside. It expects revenue and net profit to grow at 26% CAGR over FY27–28. The brokerage also anticipates improved cash generation as working-capital pressures ease, with operating cash flow rising from Rs 17 crore currently to Rs 310 crore by FY28.

2. Suzlon Energy:

This heavy electrical equipment company rose over 5% on Monday after announcing plans to invest Rs 550 crore in three wind turbine blade factories. Suzlon Energy will build them in Gujarat, Karnataka and Tamil Nadu and co-founder Girish Tanti expects them to be ready by 2027.

The investment supports Suzlon's move to larger turbines. Its new S175 turbine has a capacity of 5 MW, roughly 67% higher than its existing 3 MW model. The company has already secured its first order, with deliveries expected to begin in late 2026.

Suzlon can currently manufacture 4,500 MW of turbines annually. It aims to sell 7,500 MW a year by FY31, helped by larger models and new factories.

The company will fund the expansion using its own money. It ended Q1FY27 with net cash of Rs 2,322 crore. The new factories will also be closer to wind farms, cutting the cost of transporting large blades.

India added more wind power capacity in FY26 than ever before, and the government expects another record this year. Solar power generation stops after sunset, making wind an important source of renewable power during peak evening demand. In June, wholesale electricity prices were nearly five times as high in the evening as during the day, increasing the appeal of wind power.

The company has around 5,900 MW of orders in hand, which Motilal Oswal expects will support deliveries through December 2027. The brokerage also expects Suzlon's turbine deliveries to rise 75% in H2FY27 compared with H1, supporting stronger earnings. 

Replacing ageing wind turbines with more powerful models offers another source of orders. Group CEO Ajay Kapur said, “Repowering has a potential of close to 25 gigawatts in the country.” The company expects to secure its first confirmed orders for replacing older turbines by FY27-end.

However, fulfilling orders remains a challenge. West Asia tensions disrupted transport and delayed 10-20% of Suzlon's planned turbine deliveries in Q1FY27. Revenue rose 23% YoY. But net profit fell 6%, while EBITDA margin contracted 360 basis points as costs rose. Nuvama has also warned that project delays are tying up cash, while competition from solar power paired with batteries could slow wind demand.

Motilal Oswal sees Suzlon’s shares as attractively priced. The brokerage reiterated its ‘Buy’ rating on the stock with a target price of Rs 65, implying an upside of 55%. It expects the company’s EBITDA to grow 22% annually through FY28. 

3. Avenue Supermarts (DMart):

This department store company fell 7% over the past week after reporting its Q2FY27 results, as investors weighed stronger sales growth against weaker profitability. Revenue grew 18.4% YoY, in line with Forecaster estimates. Net profit rose just 7.6% and missed estimates by 13%, as the EBITDA margin contracted 30 basis points due to weaker gross margins and higher operating costs.

DMart added 15 stores during the quarter, taking its network to 518. Managing Director and CEO Anshul Asawa has indicated that growth at mature stores may not accelerate significantly, making expansion an important driver of future sales. Asawa said older stores already have high footfall and throughput, while new outlets help serve more customers and ease pressure on crowded locations. The company aims to expand its store base by around 15% annually.

Higher operating costs and an unfavourable product mix continue to squeeze margins. Food sales grew around 19%, while general merchandise and apparel grew about 18%. However, food accounted for a larger share of sales, while the contribution from the higher-margin general merchandise and apparel category declined. Employee costs and other expenses grew faster than revenue, with entry-level wage inflation adding to the costs.

Quick-commerce platforms pose another challenge, particularly in dense urban markets where discounting and customer-acquisition spending remain intense. DMart’s everyday-low-price model remains its key competitive advantage, but the company must preserve that proposition while improving store productivity and cash generation. Its online business, DMart Ready, is focusing on operational efficiency and customer experience after scaling back its presence to 11 cities from 25 in FY25.

Motilal Oswal retained a ‘Neutral’ rating with a target price of Rs 3,925, implying around 17% upside, but cut its profit estimates after the results. The brokerage still expects revenue, EBITDA and net profit to compound at 16-17% over the next few years, supported by store expansion and steady growth at existing outlets. Prabhudas Lilladher took a more cautious view, downgrading the stock to ‘Reduce’ and warning that quick commerce could cap growth and margins.

4. Max Healthcare Institute:

The stock of this healthcare facilities company has declined by 3.1% over the past week following reports that the government plans to extend a 30% price cap to non-scheduled cancer drugs. The proposed regulatory move aims to curb steep trade markups and make critical oncology treatments more affordable for patients.

Analysts at Jefferies point out that while near-term margins may take a temporary hit, the overall impact on EBITDA should remain manageable. Max Healthcare operates in a tightly regulated sector that has faced frequent policy changes over the years, including previous price caps on stents and knee implants that adversely affected profitability.

Despite policy uncertainties, Trendlyne Forecaster projects Q2FY27 revenue to jump 27%, driven by Max’s strong brand equity and well-established hospital network. CareEdge Ratings notes that several key facilities, including Mohali, Dwarka, Vaishali, Bathinda, and Dehradun, have high exposure to Central Government Health Scheme (CGHS) patients, supported by large populations of retired government employees in those areas.

Max Healthcare ended Q1FY27 with 5,379 operational beds, adding 630 beds (up 13%) over the past year. Expanding further, it plans to add 150 brownfield beds across Mumbai and Lucknow in FY27, alongside a 500-bed greenfield hospital in Gurugram by late FY27. Looking to FY28, the company plans to add 100 beds in Nagpur and a 400-bed greenfield facility in Zirakpur, Mohali.

CareEdge Ratings expects robust revenue growth through FY27 to FY29, anchored by steady capacity expansion, strong occupancy, and rising average revenue per occupied bed (ARPOB) from a higher-margin surgical case mix. As newly added beds ramp up operations, the rating agency projects significant gains in overall operational efficiency, driving sustainable long-term profitability.

5. Tata Elxsi:

This IT consulting & software stock surged 26.5% last week as Q2FY27 revenue grew 2.6% QoQ, beating Forecaster estimates on steady demand across key verticals. Net profit remained flat as lower other income and employee wage hikes offset revenue growth.

Segment performance delivered broad-based growth. Strong project execution and new AI contracts fueled the media (33.6% of topline) and healthcare (9.3% of topline) divisions. In the critical transportation segment (55.3% of topline), new deal wins in the US and India offset weakness in Europe, where cautious automakers delayed spending. Meanwhile, the aerospace and defence business is scaling up well, even though it currently contributes just 1.8% to total revenue. Tata Elxsi’s EBITDA margin expanded 70 bps to 21.9%, thanks to delivery execution despite the impact of the wage hikes.

Backed by multi-year contracts, management remains cautiously optimistic. MD & CEO Manoj Raghavan said, “We expect EBITDA margin to expand gradually to its peak of 22.3% in Q4FY27 over the next few quarters as operational efficiencies fully kick in.” He added that the company remains focused on sustaining growth in the second half of the year while investing in its AI-first offerings.

Management pointed out that with European auto demand still sluggish, near-term growth relies heavily on executing existing projects rather than a growth in discretionary client spending. To reduce its reliance on traditional automotive cycles, the company is actively expanding into aerospace, defence, battery energy storage, and off-highway vehicles.

Following the results, brokerages offered mixed outlooks. Deven Choksey retained an ‘Accumulate’ rating with a Rs 3,760 target price. The brokerage believes new AI deals and diversification will improve long-term revenue visibility. Meanwhile, Motilal Oswal kept a ‘Sell’ rating with a Rs 2,970 target price. Analysts at Motilal expect weak European auto demand to constrain near-term growth and warn that margins are recovering much slower than initially expected. Both target prices currently imply a downside due to the stock's massive post-earnings rally over the past week.

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations.

 
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Trendlyne Marketwatch
16 Oct 2026
Market closes higher, led by gains in IT and metal stocks
By Trendlyne Analysis

Nifty 50 closed at 23,146.15 (148.8, 0.7%), BSE Sensex closed at 74,729.27 (413.7, 0.6%) while the broader Nifty 500 closed at 22,270.05 (89.3, 0.4%). Market breadth is in the green. Of the 2,846 stocks traded today, 1,533 were on the uptick, and 1,239 were down.

Indian indices closed higher, led by gains in IT and metal stocks. The Indian volatility index, Nifty VIX, rose 0.4% and closed at 14.1 points. Jewellery stocks such as PC Jeweller, Thangamayil Jewellery and Senco Gold rose sharply after around 17 mutual fund houses temporarily halted subscriptions to gold ETF Fund of Funds (FoFs) following a regulatory nudge from the SEBI.

Nifty Midcap 100 and Nifty Smallcap 100 closed flat. Nifty IT and BSE IT Sector were among the top index gainers today. According to Trendlyne’s Sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 3.1%.

Asian indices closed mixed, while European indices are trading higher, except for UK’s FTSE 100 index. US index futures traded mixed. US Central Command (CENTCOM) rejected three Iranian claims concerning control of the Strait of Hormuz, the sinking of a Singapore-flagged ship and US military deaths in Jordan. Meanwhile, President Donald Trump said he would not attack Iran before the November 3 midterm elections, adding that the conflict would “end immediately after the elections.” The US military has continued to reinforce its presence in the region in recent weeks.

  • Money Flow Index (MFI) indicates that stocks like Shreeji Shipping Global and Sky Gold & Diamonds are in the overbought zone.

  • Ujjivan Small Finance Bank's Q2FY27 net profit soars 3x YoY to Rs 365.1 crore, thanks to a 56.2% drop in provisions. Revenue climbs 26.3% to Rs 2,448.9 crore, driven by improvements in the treasury operations, retail and corporate banking segments. Separately, the bank's board of directors approves a Rs 409 crore fundraise through a preferential issue of equity shares.

  • Omaxe is rising sharply as it signs a memorandum of understanding (MoU) with Lemon Tree Hotels' arm, Carnation Hotels, to operate 10 hotels across India, with 4,000 rooms. The company expects a Rs 4,000 crore capex to build the hotels.

  • HBL Engineering rises sharply as Tonbo Imaging's IPO draws attention to its 14.3% stake in the company. The stake, acquired for around Rs 86.7 crore, is now valued at nearly Rs 570 crore at the IPO price. Tonbo's current grey market premium of over 70% suggests a potentially higher valuation for HBL's investment.

  • Federal Bank's Q2FY27 net profit climbs 45.1% YoY to Rs 1,386.1 crore, led by lower provisions. Revenue increases 17.7% to Rs 9,211.4 crore, supported by improvements in the treasury operations, retail and corporate banking segments. The bank's asset quality improves as its gross and net NPAs decline by 51 bps and 31 bps, respectively.

  • Reliance Industries reportedly disburses October salaries about 15 days early ahead of Jio Platforms’ anticipated $3.2 billion IPO. The company also reaches out to nearly 420,000 employees across its group companies, encouraging them to participate in the share sale of its telecom and digital services arm.

  • Tata Chemicals rises as the Mumbai Centre for International Arbitration (MCIA) rejects a Rs 908 crore claim against the company filed by Allied Silica and its promoter, Manmohan Singh Jain.

  • Motilal Oswal retains its 'Buy' call on 360 One Wam with a higher target price of Rs 1,400 per share. This indicates a potential upside of 30.2%. The brokerage believes that scaling the high net-worth individual (HNI) business, UBS-led flows, and setting up the capital markets business provide revenue growth levers. It expects the firm to deliver a revenue CAGR of 19% over FY27-28.

  • Cyient DLM plunges after its Q2FY27 EBITDA margin contracts 135 bps YoY to 8.7%, hit by higher employee costs and expenses related to developmental orders. The company also lowers its FY27 EBITDA margin guidance to 9-10% from 10-11%, citing upfront growth investments. However, revenue rises 26.5% YoY to Rs 393.1 crore, driven by strong growth in the Aerospace and Industrial segments during the quarter.

  • India’s banking system deposits hit a record Rs 284 lakh crore ($2.99 trillion) in the second half of September, driven largely by the RBI’s discounted swap window, which attracted around $133 billion in foreign-currency deposits between June and August. Banks also strengthened their funding buffers ahead of the quarter-end.

  • Dee Development Engineers enters a partnership with a domestic engineering, procurement & construction (EPC) firm to jointly manufacture and supply piping products for the nuclear power sector.

  • Jewellery stocks like PC Jeweller, Thangamayil Jewellery and Senco Gold are soaring as around 17 mutual fund houses temporarily halt subscriptions to gold ETF Fund of Funds (FoFs). With new investments through some financial products temporarily restricted, investor demand for physical gold and jewellery will rise during the festive season.

  • Prestige Estates Projects' subsidiary, Prestige Hospitality Ventures, receives a Rs 1,500 crore investment from CPP Investment Board (CPPIB) for a 15.8% stake. This deal is a strategic pivot as the company had earlier planned a Rs 2,700 crore IPO for the subsidiary, which was later cancelled on account of volatile market conditions.

  • InterGlobe Aviation (IndiGo) declines as the government informs the Supreme Court that new aviation rules under the Bharatiya Vayuyan Adhiniyam, 2024, have been finalised and approved. The development comes amid a PIL hearing on high airfares and passenger charges, with the court seeking stronger regulation and consumer protection. The SC has directed the government to submit the published rules at the next hearing on November 16.

  • Baazar Style Retail is rising sharply as its board of directors approves incorporating a new subsidiary to expand into the renewable energy (RE) business. The subsidiary will develop, operate & maintain solar & other RE projects, and create a platform for investments in these projects.

  • Power Finance Corp receives approval from the Reserve Bank of India (RBI) to merge REC with itself.

  • Rail Vikas Nigam is rising as it signs a memorandum of understanding (MoU) with Damodar Valley Corp (DVC) to upgrade and construct railway infrastructure to connect DVC's power plants and coal mines.

  • Analysts believe Fairfax Holdings’ proposed acquisition of IDBI Bank at a premium valuation is justified, as it would triple its pan-India branch network, expand its advances book sixfold and grow its deposits sevenfold. EY’s financial services head, Pratik Shah, says that the deal could also lay the foundation for a diversified financial services ecosystem in India.

  • Mankind Pharma's Netherlands subsidiary plans to acquire a 70% stake in Belgium-based Armed Cell Therapeutics for €48 million (~Rs 511 crore). The acquisition marks its entry into next-generation CAR-T cancer therapies, with Armed Cell developing treatments for non-Hodgkin lymphoma and small-cell lung cancer.

  • Persistent Systems is falling sharply as its Q2FY27 net profit drops 27.2% QoQ to Rs 351.5 crore due to higher employee benefits, subcontracting, finance and depreciation & amortisation expenses. However, revenue grows 7.2% to Rs 4,688.4 crore, owing to traction in the banking, financial services & insurance (BFSI) and software, hi-tech & emerging industries businesses. It appears in a screener of stocks with expensive valuations according to Trendlyne Valuation score.

  • Fujiyama Power Systems' board of directors approves a Rs 1,200 crore fundraise through a qualified institutional placement (QIP) of equity shares.

  • The Indian rupee gains against the US dollar, supported by the unwinding of bearish bets and expectations of continued dollar selling by the RBI. The central bank’s recent measures to curb dollar demand also supported the currency, despite a stronger dollar and weakness in other Asian currencies.

  • Sterling & Wilson Renewable Energy is falling sharply as its Q2FY27 net profit plunges 64.5% QoQ to Rs 19.23 crore due to higher employee benefits, finance and depreciation & amortisation expenses. Revenue drops 4.3% to Rs 1,541.7 crore, caused by slower execution of engineering, procurement & construction (EPC) projects. It shows up in a screener of stocks with low Piotroski scores.

  • Wipro is rising as its Q2FY27 revenue beats Forecaster estimates by 2.7% despite growing marginally by 0.2% QoQ to Rs 25,508.2 crore, driven by forex gains and momentum in AI-led offerings. However, net profit declines 4.5% to Rs 3,200.6 crore due to higher inventory, employee benefits, finance and depreciation & amortisation expenses. It appears in a screener of stocks where FIIs are increasing their shareholding.

  • Solar Industries India is rising as its subsidiary, Solar Explochem, plans to acquire a 100% stake in Sivasakthi Industrial Explosives for Rs 115 crore to expand its explosives business.

  • Tech Mahindra is rising sharply as its Q2FY27 net profit jumps 8.2% QoQ to Rs 1,585.6 crore, driven by lower finance costs. Revenue grows 3.6% to Rs 16,172.8 crore, supported by strong traction in the communications and manufacturing segments. It features in a screener of stocks with increasing net profit over the past three quarters.

  • Nifty 50 was trading at 22,955.90 (-41.5, -0.2%), BSE Sensex was trading at 74,341.08 (25.5, 0.0%), while the broader Nifty 500 was trading at 22,124.35 (-56.5, -0.3%).

  • Market breadth is in the red. Of the 2,212 stocks traded today, 799 were on the uptrend, and 1,329 went down.

Riding High:

Largecap and midcap gainers today include Tech Mahindra Ltd. (1,790, 8.5%), Wipro Ltd. (184.40, 6.0%) and Tata Consultancy Services Ltd. (2,465, 4.9%).

Downers:

Largecap and midcap losers today include YES Bank Ltd. (17.50, -3.4%), L&T Finance Ltd. (253.85, -3.1%) and Mankind Pharma Ltd. (2,275.50, -3.1%).

Volume Shockers

25 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included HBL Engineering Ltd. (833.15, 17.3%), Tech Mahindra Ltd. (1,790, 8.5%) and Wipro Ltd. (184.40, 6.0%).

Top high volume losers on BSE were R R Kabel Ltd. (2,388, -8.3%), CCL Products India Ltd. (1,008.30, -7.1%) and HDB Financial Services Ltd. (512.60, -4.9%).

Dalmia Bharat Ltd. (1,684.40, 4.6%) was trading at 10.6 times of weekly average. SJVN Ltd. (53.88, -2.7%) and Authum Investment & Infrastructure Ltd. (571.90, 5.6%) were trading with volumes 6.5 and 6.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks took off, crossing 52 week highs, while 16 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Cyient Ltd. (1,194.50, 0.4%), Indian Hotels Company Ltd. (772.10, 4.1%) and PVR INOX Ltd. (1,401, 1.4%).

Stocks making new 52 weeks lows included - Blue Dart Express Ltd. (4,390.90, -1.7%) and Fortis Healthcare Ltd. (736.50, -1.3%).

11 stocks climbed above their 200 day SMA including HBL Engineering Ltd. (833.15, 17.3%) and Bajaj Finance Ltd. (982.10, 1.8%). 25 stocks slipped below their 200 SMA including CCL Products India Ltd. (1,008.30, -7.1%) and Mankind Pharma Ltd. (2,275.50, -3.1%).

 
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Trendlyne Marketwatch
15 Oct 2026
Market closes higher, led by IT and financial stocks
By Trendlyne Analysis

Nifty 50 closed at 22,997.35 (374.7, 1.7%), BSE Sensex closed at 74,315.61 (1,533.7, 2.1%) while the broader Nifty 500 closed at 22,180.80 (142.8, 0.7%). Market breadth is in the red. Of the 2,846 stocks traded today, 954 were on the uptrend, and 1,839 went down.

Indian indices closed higher, led by gains in IT and financial stocks. The Indian volatility index, Nifty VIX, fell 4.1% and closed at 14 points. Nestle India plunged after management flagged rising food inflation and commodity cost pressures, despite its Q2FY27 revenue increasing 20.3% YoY to Rs 6,788.3 crore on strong volume growth.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. BSE Tech and BSE TOP 10 Banks are among the top index gainers today. According to Trendlyne’s sector dashboard, Telecom Services emerged as the best-performing sector of the day, with a rise of 2.7%.

Asian markets closed lower, except for India’s Nifty 50. European markets traded with varied trends. US index futures traded mixed. Investors await US producer inflation and retail sales data for further cues on the interest-rate outlook. Meanwhile, US Ambassador to India Sergio Gor said US President Donald Trump is expected to decide within about 10 days on tariffs of up to 100% on countries buying Russian energy.

  • Relative Strength Index (RSI) indicates that stocks like Shreeji Shipping Global and DP Abhushan are in the overbought zone.

  • YES Bank falls sharply after the Supreme Court upholds the Bombay High Court ruling quashing its Rs 8,415 crore AT1 bond write-off carried out during the bank’s 2020 restructuring. The ruling raises concerns over a potential financial liability towards bondholders.

  • Tata Communications is rising sharply as its Q2FY27 net profit soars 86.3% YoY to Rs 341 crore, driven by lower employee benefits & finance costs. Revenue jumps 10.2% to Rs 6,704.3 crore, supported by traction in the data services and campaign registry businesses. It features in a screener of stocks with increasing book value per share over the past two years.

  • South Indian Bank rises to a new all-time high of Rs 52.1 as its net profit rises 21.3% YoY to Rs 426.1 crore in Q2FY27. Revenue increases 16.1% to Rs 2,795.7 crore, driven by improvement in the retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 169 bps and 47 bps, respectively.

  • Fairfax Financial Holdings plans to combine IDBI Bank, Digit Insurance and IIFL Capital into a single financial services group following its selection to acquire a 60.7% stake in IDBI Bank for Rs 52,878 crore. The proposed combination will bring banking, life and general insurance, investment banking and wealth management services under one entity, expanding IDBI Bank's financial services offerings.

  • UCO Bank's Q2FY27 net profit jumps 20.3% YoY to Rs 785.6 crore, led by lower employee benefits expenses and provisions for taxes. Revenue increases 10.1% to Rs 8,174.1 crore, helped by improvements in the corporate and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline 60 bps and 25 bps, respectively.

  • Polycab India is falling as its Q2FY27 EBITDA margin drops 140 bps YoY to 14.4% due to higher raw materials, subcontracting, employee benefits, finance, advertising and freight costs. However, revenue soars 52.8% to Rs 9,898.9 crore, thanks to demand for wires & cables and fast-moving electrical goods (FMEG) and strong EPC contract execution. It appears in a screener of stocks with an increasing trend in non-core income.

  • Indian Bank's Q2FY7 net profit rises 14.7% YoY to Rs 3,462.2 crore. Revenue increases 15.2% to Rs 19,105.8 crore, driven by improvement in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 99 bps and 2 bps, respectively.

  • Axis Capital initiates ACME Solar Holdings with a ‘Buy’ rating and a target price of Rs 550. The brokerage expects EBITDA to grow at a 38% CAGR over FY27-31 as the company shifts towards complex renewable energy projects and expands its battery storage portfolio. Around 95% of its 5.4 GW under-construction and pipeline capacity comprises complex projects, while it plans to add around 17 GWh of battery storage capacity.

  • Nestle India recovers 4.5% from its day low as its Q2FY27 net profit climbs 35.9% YoY to Rs 1,009.6 crore, helped by lower finance costs and premiumisation. Revenue jumps 20.3% to Rs 6,788.3 crore, owing to packaged food & beverages demand. It features in a screener of stocks where FIIs are increasing their shareholding.

  • NTPC is rising as it reportedly proposes a partnership with Russia's Rosatom to develop six nuclear reactors in India, with a capex of Rs 1.5 lakh crore. Under the partnership, NTPC offers to deploy Rosatom's VVER-1000 reactors across the six units, each with a 1,000 MW capacity. The units are part of an agreement signed between India and Russia in 2014 to build 12 nuclear reactors in the country.

  • HDB Financial Services plunges to a new all-time low of Rs 538.3 as its Q2FY27 net interest margin falls 12 bps QoQ to 8.2%, while gross Stage 3 loans rise to 2.4% from 2.4% in Q1, indicating some deterioration in asset quality. Net profit drops 0.6% to Rs 780 crore as higher credit costs and lower margins weigh on earnings. The company appears in a screener of stocks with declining ROE over the past two years.

  • Nomura initiates Paytm with a ‘Buy’ rating and a target price of Rs 2,250. The brokerage expects EBITDA to grow at a 96% CAGR over FY27-29, driven by growth in payments and merchant lending, AI-led cost efficiencies, and potential UPI MDR revenue. It also sees international expansion and enterprise AI product Pi as additional growth opportunities. 

  • ICICI Lombard General Insurance Co's Q2FY27 net profit jumps 15.5% YoY to Rs 946.4 crore, boosted by higher investment income. Revenue climbs 19.6% to Rs 8,252.4 crore, driven by higher net premium income (NPI) amid demand for motor & health insurance and a recovery in commercial insurance. It features in a screener of stocks with a decrease in provisions.

  • Reliance Industries is rising as its subsidiary, Jio Platforms, files its Red Herring Prospectus (RHP) for an IPO to sell 27 crore shares worth Rs 28,755-30,213 crore, sets the price band at Rs 1,065-1,119 per share.

  • Ceat is falling sharply as its Q2FY27 net profit drops 39.8% YoY to Rs 112 crore due to higher raw materials, inventory, employee benefits and depreciation & amortisation expenses. However, revenue jumps 26.2% to Rs 4,767 crore, thanks to premium tyre demand, higher exports and off-highway business ramp-up. It appears in a screener of stocks near their 52-week lows.

  • Bernstein expects India's domestic two-wheeler sales growth to slow to 2.1% in FY28 from 9.7% in FY27 as the demand boost from GST cuts fades. The brokerage says lower prices encouraged customers to replace older vehicles earlier, boosting FY27 sales but reducing potential demand in FY28. Subsequent price hikes are also expected to reduce the affordability benefits of the tax cuts. Bernstein expects motorcycle sales to grow just 1.4% in FY28, compared with 3.3% for scooters. 

  • Mangalore Refinery and Petrochemicals is falling sharply as its revenue declines 15% QoQ to Rs 32,565.8 crore due to maintenance shutdowns impacting oil production and throughput. However, net profit soars 101% to Rs 1,900 crore, fueled by inventory destocking and lower raw materials & excise duty expenses. It shows up in a screener of stocks with a high market capitalisation but lower public shareholding.

  • Dr Reddy's Laboratories receives a Form 483 with three observations from the US FDA after an inspection at its Formulation Technical Operation-9 (FTO-9) facility in Visakhapatnam.

  • IDBI Bank falls after the government approves the sale of a 60.7% stake in the lender to Canada-based Fairfax Financial Holdings for Rs 52,878 crore. The transaction includes a 30.5% stake held by the government and 30.2% held by LIC. After the deal, the government and LIC will retain a combined 34% stake in the bank.

  • LTM rises after signing a multi-million-dollar, three-year managed services deal with a North American engineering and construction company. The company will consolidate the client’s infrastructure, cybersecurity and application administration services under an AI-led operating model to improve efficiency, service quality and operational resilience. 

  • Capri Global Capital's board of directors approves a Rs 4,000 crore fundraise by issuing equity or other securities through a qualified institutional placement (QIP) or other modes.

  • Bajaj Consumer Care is falling sharply as its Q2FY27 net profit drops marginally by 0.8% QoQ to Rs 70.2 crore due to higher raw materials and inventory costs. Revenue declines 2.3% to Rs 341.4 crore amid lower coconut oil prices despite higher sales. It appears in a screener of stocks with decreasing net cash flow.

  • Enviro Infra Engineers surges as its step-down subsidiary, Suyog Urja, secures a Rs 228 crore EPC order from Arie Energy to develop a 100 MW wind power project in Latur, Maharashtra. The project is to be completed by July 2027.

  • Tata Technologies' Q2FY27 net profit drops 5.2% QoQ to Rs 171.4 crore due to higher outsourcing, employee benefits, finance and depreciation & amortisation expenses. However, revenue grows 1.7% to Rs 1,730 crore, helped by traction in the services business. It shows up in a screener of stocks with declining return on equity (RoE) over the past two years.

  • Nifty 50 was trading at 22,711.35 (88.7, 0.4%), BSE Sensex was trading at 72,965.80 (183.9, 0.3%), while the broader Nifty 500 was trading at 22,049.75 (11.8, 0.1%).

  • Market breadth is in the red. Of the 2,201 stocks traded today, 857 showed gains, and 1,258 showed losses.

Riding High:

Largecap and midcap gainers today include Tata Communications Ltd. (1,749.70, 5.5%), Hindustan Petroleum Corporation Ltd. (348.50, 5.3%) and HDFC Asset Management Company Ltd. (2,415, 5.1%).

Downers:

Largecap and midcap losers today include YES Bank Ltd. (18.12, -14.5%), IDBI Bank Ltd. (83.07, -8.1%) and Nestle India Ltd. (1,275.80, -7.8%).

Movers and Shakers

26 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Gallantt Ispat Ltd. (618.20, 8.9%), Cemindia Projects Ltd. (1,220, 5.8%) and Rites Ltd. (211.80, 5.5%).

Top high volume losers on BSE were YES Bank Ltd. (18.12, -14.5%), HDB Financial Services Ltd. (538.20, -7.8%) and Nestle India Ltd. (1,275.80, -7.8%).

EIH Ltd. (294.45, 0.9%) was trading at 37.3 times of weekly average. BLS International Services Ltd. (225.25, 2.3%) and Tata Communications Ltd. (1,749.70, 5.5%) were trading with volumes 26.5 and 19.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks overperformed with 52 week highs, while 14 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Sun TV Network Ltd. (630, -3.5%), Shyam Metalics and Energy Ltd. (1,157.90, 1.4%) and Leela Palaces Hotels & Resorts Ltd. (589, -0.4%).

Stocks making new 52 weeks lows included - Blue Dart Express Ltd. (4,497, -0.2%) and MRF Ltd. (1,22,100, -0.2%).

23 stocks climbed above their 200 day SMA including Gallantt Ispat Ltd. (618.20, 8.9%) and Rites Ltd. (211.80, 5.5%). 19 stocks slipped below their 200 SMA including IDBI Bank Ltd. (83.07, -8.1%) and Nestle India Ltd. (1,275.80, -7.8%).

 
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The Baseline
15 Oct 2026
'Mehengai' is back in the headlines, with crude at $106 and wholesale inflation at 11.4%

Yesterday afternoon, Dalal Street was busy popping champagne over a 1,100-point Sensex rally and trading WhatsApp forwards about Nirmala Sitharaman maybe scrapping the LTCG tax.

What she had actually said was, “I am open to hearing about this” when asked about scrapping LTCG. That's not a yes, that’s someone trying to change the subject. When my former boss wanted to dismiss some idea I had, that’s what he would say: “I am open to hearing about this”. 

Entrepreneurs and industry CEOs watching the coverage about Sitharaman’s comments, would have needed a drink much stronger than champagne. Everybody on TV was talking about tax cuts while oil is at $106 and rising. 

Yesterday at noon, the Ministry of Commerce and Industry showed us what Indian industry is worried about. The September Wholesale Price Index (WPI) inflation came in at a scorching 11.39%, blowing past the 10.18% Reuters consensus poll and accelerating from 9.92% in August.

Industrial prices across different sectors are soaring. Commercial LPG prices are up over 70% YoY, hitting hotels and restaurant kitchens. Electronics companies have been impacted by 50%+ increases in the prices of inputs like tin. Copper and silver prices are also up by nearly 50% YoY, hitting cables, electricals, renewable businesses and more. Rubber prices are up close to 40%. And energy prices, of course, are up everywhere, impacting every industry.

These rising costs were already visible in the June quarter, but that was cushioned by cheaper inventory companies already had on hand. Asian Paints for example, in its June quarter had already reported25% material inflation alongside 7% price increases.  Iran is now actively shooting tankers and container ships in the Strait of Hormuz, so my fear is that today's expensive inventory will look like tomorrow's cheap inventory.

“Mehangai” is back in the headlines

Earlier this week, September retail inflation (CPI) came in at 5.54% That’s high enough to keep interest rates up, but it doesn’t suggest that our hair is on fire. 

But wholesale inflation is running 5.85 percentage points hotter than retail inflation. And Manufactured Products inflation hit a series high of 9.8%, driven by metals, chemicals, textiles, plastics, and electrical equipment.

In economics, when WPI explodes while CPI stays comparatively muted, its clear that corporate India is swallowing some of the cost.

September quarter will look good with all the shooting in the background

Over the next few weeks, we will see dozens of consumer, auto, and chemical companies report 'resilient' September quarter margins. Investors should be cautious about that word.

Business accounting works on a lag, and most manufacturers carry 45 to 60 days of raw material inventory. Products sold in July and August were made using crude derivatives, metals, and chemicals purchased back in May and June, when lower cost options were still widely available in the market. Now however, Fuel & Power inflation is up 25.9%.

So Q2 earnings to an extent, will reflect yesterday’s costs. The December quarter is when current inflation hits the Cost of Goods Sold line on the P&L. The inventory cushion would have disappeared by then.

Who gets crushed and who doesn’t in the coming months?

In FMCG, companies are already feeling the heat. Godrej Consumer Products management says that inflation has returned for the company in the September quarter, driving costs up. Dabur has also said elevated inflation has hit home and personal care, and its healthcare businesses. It said price increases and cost-saving measures have provided “only a partial offset”. 

So there are companies that cannot pass on the costs (like Godrej and Dabur, in the highly cost sensitive FMCG sector) and companies that can, like TARIL - Transformers & Rectifiers India.

TARIL reported September quarter consolidated revenue  up 61% year on year, and reported an EBITDA margin of 17.4%, against 12.8% a year earlier. TARIL management says a majority of its orders contain clauses allowing it to pass through costs, limiting the damage from expensive raw materials.

Another set of interesting companies that can weather the inflation storm, are those that export in USD while paying costs in rupees. IT exporters' earnings in dollars help their rupee numbers.HCL Tech’s September quarter revenue for example, grew 11.5% in rupees but 2.2% in dollars. Its EBIT margin expanded 131 basis points sequentially to 18.2%; TCS reported an operating margin of 24%.

But in other industries like paints and tyres, purchase costs are outrunning price recovery. In this increasingly expensive environment, investors will have to keep an eye out for these red flags, and another emerging one: borrowing costs, as businesses try to keep up with their expenses.

The most vulnerable players will be companies that are buying at today’s prices, selling at yesterday’s prices, and borrowing to fund the difference.

 
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The Baseline
14 Oct 2026
Five stocks to buy from analysts this week - October 14, 2026
By Abdullah Shah

1. HCL Technologies:

Anand Rathi upgrades this IT services company to ‘Buy’ from ‘Hold’, with a target price of Rs 1,435, an upside of 8.1%. HCL Tech’s revenue increased 2.3% QoQ in Q2FY27, led by demand for IT consulting, application development and technology modernisation projects. Advanced AI services revenue jumped 28.4%, making up about 6% of total revenue. The company also won new contracts worth $3.3 billion, up 26.8% YoY, boosting revenue visibility.

Management raised its FY27 revenue growth guidance to 2.5–4% from 1–4% while holding its operating margin target near 18%. Operating margin expanded 131 basis points QoQ on improved efficiency. 

HCL Tech is scaling its AI footprint through corporate tool deployments and key partnerships with players like Anthropic. Meanwhile, the software business struggled, with revenue falling 11.2% on lower license sales.

Analysts Sushovon Nayak and Apoorva Khandelwal expect AI adoption, strong deal wins, and better operating efficiency to drive future performance. They project EBITDA margin to expand 120 basis points and net profit to jump 35.4% by FY29, fueled by expanding margins and rising AI revenue streams.

2. Vijaya Diagnostic Centre: 

Axis Direct initiates coverage on this diagnostic service provider with a ‘Buy’ call and a target price of Rs 1,730, implying an upside of 23.4%. Analysts Sukhad Kumar Sahu and Titiksha Yewale are confident in the stock, supported by increasing patient footfalls, rising per-test realisations, and cluster-based expansion.

Vijaya operates a retail-first model where direct walk-ins generate about 92% of total revenue. This direct-to-consumer approach provides pricing power, strong brand loyalty, and freedom from referral-commission pressures. Managing the entire patient journey gives Vijaya an advantage over its peers as it expands preventive health checkups and chronic disease monitoring. To fuel long-term revenue compounding, the company is replicating its hub-and-spoke model in high-growth regions like Karnataka, West Bengal, and Maharashtra.

Sahu and Yewale note that combining pathology with high-end radiology creates another advantage, as radiology requires fewer consumables than lab tests. This integrated mix drives strong operating leverage, allowing Vijaya to sustain industry-leading EBITDA margins of 41%–42.7%. Analysts project a revenue CAGR of 16.3% and a net profit CAGR of 35.6% over FY27–28.

3. RBL Bank: 

Emkay maintains its ‘Buy’ rating on this private bank, with a target price of Rs 475, an upside of 23.1%. Analysts Avinash Singh and Nikhil Vaishnav remain positive as Q2FY27 net profit surged 170% YoY. However, earnings missed Emkay’s estimates by 4% due to higher bad loan provisions. 

Loans jumped 42%, driven by broad-based lending and foreign currency deposits. Asset quality also improved, with gross bad loans dropping to 1% of total loans.

Management plans to deploy surplus cash into corporate and secured retail lending. While the credit card business lagged, the bank anticipates card loans to stabilise next quarter and grow within six months. It also plans to open 30–50 new branches every quarter to capture more customer deposits.

Singh and Vaishnav expect profitability to rise on higher lending volumes, recovering margins, and lower bad loan losses. They forecast loan growth of 28.7% in FY27 and roughly 20% annually through FY28–29. They also project return on assets to reach 1–1.3% on improving asset quality. Persistent weakness in credit cards and microfinance remains a key risk.

4. Aditya Infotech:

Motilal Oswal reiterates its ‘Buy’ rating on this surveillance solutions provider, with a target price of Rs 5,390, a 21.4% upside. Analysts Sumant Kumar and Udit Gajiwala believe that Aditya Infotech will benefit from rising demand for security cameras and smart surveillance systems in India. The company already holds around 43% market share and has a wide distribution network, giving it an advantage over smaller competitors.

Management forecasts steady growth as strict product testing and certification requirements make it harder for smaller companies to enter the market amid improving demand. Aditya Infotech is now expanding beyond security cameras into areas such as industrial vision systems and robotics, opening up new opportunities. The company is also reducing dependence on Chinese components and shifting towards more AI-enabled products, which should improve supply reliability and product capabilities.

Kumar and Gajiwala anticipate profitability to improve as higher-value products, such as internet-connected cameras, contribute more to sales. They point out that a strong balance sheet, advanced R&D, and local chip partnerships will boost efficiency and protect returns. Analysts expect revenue and net profit CAGRs of 37% and 50%, respectively, through FY29.

5. Gland Pharma: 

ICICI Direct retains its ‘Buy’ rating on this pharma company, with a target price of Rs 3,430, implying a 12.4% upside. Analysts Sidhhant Khandekar and Shubh Mehta remain bullish, citing core business recovery and the turnaround of recently acquired French contract manufacturer Cenexi’s operations. A robust pipeline of complex injectables and a solid regulatory compliance record also strengthen the company's market position.

Management anticipates steady growth, driven by rising injectable demand and a wide B2B distribution network. They note that Cenexi integration progresses well, providing a clear path to normalised overall revenue growth. The company raises its revenue CAGR target by 400 bps to 19% for FY27–29. Analysts are bullish on the company’s outlook, citing a healthy contract manufacturing pipeline, improved product registrations, and a wide global footprint.

Khandekar and Mehta note that margins will expand gradually. A better geographic mix and new product rollouts will ease cost pressures. They add that a comfortable cash cushion, disciplined spending, and ongoing capacity investments will fuel efficiency and sustain returns. Analysts expect Gland to deliver a 24% net profit CAGR through FY29.

Note: These recommendations are from various analysts and are not recommendations by Trendlyne.

(You can find all analyst picks here)

 
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The Baseline
14 Oct 2026
By Anagh Keremutt

Foreign investors (FPIs) turned net buyers of Indian stocks in Q2FY27 after four consecutive quarters of selling. However, the recovery weakened as they resumed selling in September. FPIs bought about Rs 14,000 crore in equities in Q2FY27 after selling roughly Rs 1.4 lakh crore in Q1. Foreign buying also spread to 15 sectors, up from six in Q1.

V.K. Vijayakumar, chief investment strategist at Geojit Investments, linked FPI buying in August to a stable rupee, improving earnings growth in India and investors moving away from expensive global chip stocks.

FPIs reversed Q1’s selling across consumer services, healthcare, IT and metals with net buying in Q2. 

Consumer durables and services also drew inflows. Selling in financial services slowed alongside auto, FMCG and oil & gas, while telecom saw the biggest outflows.

In this edition of Chart of the Week, we examine what brought FPIs back to more sectors in Q2 and where selling persisted.

FPIs back consumer businesses, services and healthcare

Demand improved across different parts of the economy. Consumers spent more on appliances, shopping and travel, while ports handled more cargo. Hospitals expanded capacity by adding beds to meet growing demand for healthcare. 

Consumer services topped the list of inflows during Q2. FPIs bought over Rs 20,950 crore worth of equities in this group, reversing the Rs 8,500 crore of selling seen in Q1. The sector spans retail, online shopping, hotels and restaurants among other businesses.

Kumar Rajagopalan, CEO of the Retailers Association of India, noted a rebound since July. Annual retail sales growth recovered from 5% in May to 10% in August.

Strong travel demand helped hotels charge higher room rates, particularly at popular leisure destinations. ICRA expects demand for premium hotels to grow 8-9% annually through FY28, faster than room additions of 5-6%. “Room rates at high-demand leisure hotels are roughly 8-10% above last year, with higher increases possible on peak dates,” said Nikhil Sharma, MD & COO at Radisson Hotel.

FPIs also bet on consumption through other businesses. Consumer durables, which include jewellery, watches, paints, footwear and home products alongside appliances, saw inflows of Rs 9,300 crore in Q2.

Keshav Lahoti, research analyst at HDFC Securities, highlighted healthy demand for kitchen appliances and cooling products in Q2 even as costs rose. CII and BCG expect the appliance and electronics market to grow 8-10% annually through 2030, helped by rising incomes, easier financing and more households buying appliances.

Branded jewellery chains have an opportunity to gain market share from smaller shops as they expand their store networks. Jefferies estimates that 60% of the market remains unorganised, giving Kalyan Jewellers and Titan space to expand.

The broader services sector attracted about Rs 6,500 crore of inflows in Q2, down from Rs 9,100 crore in Q1. Higher cargo volumes supported ports and logistics. The category also includes consulting and outsourced office work.

FPIs bought about Rs 15,800 crore in healthcare stocks in Q2 after selling around Rs 9,800 crore in Q1. ICRA forecasts 13-15% revenue growth for its hospital sample this year as hospitals add beds and treat more patients. It also expects organised diagnostics revenue to rise 12-14%, supported by health packages, preventive checks and speciality tests.

Beyond hospitals and diagnostics, Sunny Agrawal, head of fundamental research at SBI Securities, sees opportunities in medicines, outsourced drug research and manufacturing, and newer obesity treatments.

Sector fortunes diverge as IT and metals regain favour

FPIs bought IT, metals and chemicals, while housing drew smaller bets. Telecom faced the impact of delayed price hikes, while capital goods and power shares needed stronger profits to justify their prices.

The IT sector drew inflows of about Rs 6,500 crore in Q2 after FPIs sold Rs 13,600 crore in Q1. Investors grew wary of expensive global AI and chip stocks, making Indian IT services firms an attractive option after their earlier sharp fall. “IT majors are now seen as the primary execution partners required in upgrading clients’ older systems, managing data and deploying AI at scale,” said Sunil Subramaniam, founder and CEO of Sense and Simplicity.

FPIs bought about Rs 3,700 crore in metals & mining in Q2 after selling in Q1. Aluminium, copper and zinc producers had a stronger earnings outlook as prices rose. Girishkumar Kadam, senior vice-president at ICRA, linked the outlook to higher prices and demand from infrastructure, power and electric vehicles.

Chemicals also attracted inflows of Rs 1,370 crore in Q2.

Housing and infrastructure activity supported builders and cement makers. ICRA noted that cement production rose 10.3% YoY in April-August. 

FPIs bought a net Rs 1,300 crore in construction materials and about Rs 450 crore in realty during Q2, reversing Q1 selling in both sectors. Construction attracted just Rs 150 crore, with buying slowing from Q1.

Telecom saw the biggest sell-off in Q2. FPIs sold over Rs 14,100 crore worth of telecom equities during the quarter. Operators face heavy spending on 5G networks, while revenue growth has been slower than expected. Uncertainty over the next price hike within the industry and pending regulatory dues added to investor concerns.

On October 8, Airtelraised postpaid plan prices by Rs 50, though a wider industry increase is still pending.

Capital goods saw outflows of about Rs 7,100 in Q2. Companies still benefit from spending on manufacturing, power and data centres, but Sunny Agrawal of SBI Securities said some share prices already assumed much of that growth.

Power also saw selling accelerate in Q2, with outflows crossing Rs 6,600 crore. Jahol Prajapati, Equity Research analyst at SAMCO Securities, said, “AI-driven data centres are a long-term demand catalyst for India's power sector, but the market appears to be pricing in this opportunity much faster than earnings are likely to materialise.”

Selling eases in Q2, but picks up in September

FPIs remained net sellers in financial services, autos, FMCG and oil & gas in Q2, although outflows were lower than in Q1.

The decline was particularly sharp in financial services, where outflows fell from about Rs 50,600 crore in Q1 to Rs 3,350 crore in Q2. FPIs even bought Rs 10,500 crore worth of financial stocks in August, before turning sellers again in September.

Higher US bond yields, the Fed's September 16 rate hike and concerns over another Indian rate increase weighed on foreign investor sentiment. Vishad Turakhia, CEO at Equirus Securities, said, “Financials, which account for a large share of foreign portfolios, tend to see significant selling when overseas investors reduce their India exposure.”

Oil & gas stocks saw outflows of about Rs 8,900 crore in Q2 as volatile crude prices clouded earnings.

FPIs cut their selling in autos and FMCG as sales improved, but remained net sellers. Q2 outflows fell to about Rs 7,700 crore in autos and Rs 5,500 crore in FMCG.

Vehicle retail sales rose 31.8% from a year earlier in September, although FADA cautioned that delayed purchases a year earlier inflated the comparison. Bizom recorded FMCG sales growth of 8.6% in Q2, up from 6.8% in Q1, helped by rural spending and price increases. Higher household bills and costlier loans could still curb spending.

September’s sell-off exposed how fragile the Q2 recovery remains. Sustained inflows will depend on companies turning stronger sales into profits despite rising costs and interest rates, and Indian stocks offering enough upside to compete with US bonds.

 
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Trendlyne Marketwatch
14 Oct 2026
Market closes lower, dragged down by elevated oil prices and profit booking
By Trendlyne Analysis

Nifty 50 closed at 22,622.70 (-99.3, -0.4%), BSE Sensex closed at 72,781.89 (-251.9, -0.3%) while the broader Nifty 500 closed at 22,038 (-52, -0.2%). Market breadth is in the green. Of the 2,857 stocks traded today, 1,625 were on the uptrend, and 1,174 went down.

Indian indices closed lower amid elevated oil prices and profit booking after Tuesday’s strong rebound. The Indian volatility index, Nifty VIX, rose 3.6% and closed at 14.6 points. Billionbrains Garage Ventures (Groww) reported a 54% YoY increase in Q2FY27 net profit to Rs 725.7 crore, supported by lower finance costs. Revenue rose 43.9% to Rs 1,540.5 crore, driven by higher trading activity, an expanding user base, and growth across its investment platform.

Nifty Midcap 100 closed flat, while Nifty Smallcap 100 closed in the red. S&P BSE Utilities and BSE Power were among the top index gainers today. According to Trendlyne’s Sector dashboard, Utilities emerged as the best-performing sector of the day, with a rise of 2.1%.

Asian indices closed mixed, while European indices are trading higher. US index futures traded higher. Investors await the September US consumer price index (CPI) report, due later today, for clues on the Federal Reserve’s next policy moves. Economists expect headline inflation to rise to 3.6% YoY from 3.4% in August, while a stronger-than-expected core reading could revive expectations of a rate hike this month. However, traders largely expect the Fed to keep interest rates unchanged at its upcoming meeting, although a rate increase in December remains a possibility.

  • Money Flow Index (MFI) indicates that stocks like Shreeji Shipping Global and Sky Gold & Diamonds are in the overbought zone.

  • Biocon settles global patent disputes with Genentech, allowing it to launch Pebrilzo, a breast cancer biosimilar, in Europe and UK from Q1 2027 and the US from Q3 2028, subject to regulatory approval. The deal removes legal hurdles and opens up new revenue opportunities in major markets.

  • Leela Palaces Hotels & Resorts touches its 52-week high of Rs 615.5 as its Q2FY27 net profit jumps 26.6% YoY to Rs 94.6 crore, fueled by better operating leverage. Revenue climbs 25.4% to Rs 418 crore, led by strong demand for luxury hospitality and high-end corporate & leisure travel. It appears in a screener of stocks with high trailing-twelve month (TTM) EPS growth.

  • Elecon Engineering is rising sharply as its Q2FY27 net profit grows 9.8% YoY to Rs 96.4 crore, helped by inventory destocking. Revenue increases 10.4% to Rs 658.7 crore, driven by demand for transmission and material handling equipment. It features in a screener of stocks where mutual funds raised shareholding in the previous quarter.

  • SBI Funds Management appoints R.S. Srinivas Jain as the Joint Chief Executive Officer and Key Managerial Personnel of the company, effective October 13, 2026.

  • Bharat Heavy Electricals soars to its all-time high of Rs 463.3 as its Q2FY27 net profit surges 119% YoY to Rs 820.9 crore, owing to inventory destocking, lower finance costs and higher operating leverage. Revenue increases 24.3% to Rs 9553 crore, fueled by better execution in the power and industrial segments. Separately, its board of directors approves a Rs 500 crore capex to set up additional facilities at Haridwar unit to manufacture thermal and nuclear power sets.

  • Billionbrains Garage Ventures' (Groww's) Q2FY27 net profit soars 54% YoY to Rs 725.7 crore, helped by lower finance costs. Revenue jumps 43.9% to Rs 1,540.5 crore, driven by higher trading activity, an expanding user base, and growth across its investment platform. It features in a screener of stocks with high momentum scores.

  • Amit Gupta, MD & CEO of Hero Motors, targets 22–25% revenue growth in FY27 and expects the company’s alloys and metallics business to break even. He anticipates EBITDA margins reaching 14–15% by Q4. Gupta adds that balance sheet improvements are expected to boost annual profit after tax (PAT) by Rs 40–45 crore, while the company explores inorganic growth opportunities in Europe.

  • RailTel is rising as it secures a Rs 197.2 crore order from State Bank of India to continue Multiprotocol Label Switching (MPLS) and point-to-point telecom links across its data centres, disaster recovery sites and branches.

  • Aeroflex Industries rises after its board approves a Rs 202 crore capacity expansion across its stainless steel hose and liquid cooling businesses. The company will invest Rs 124 crore to raise hose capacity by 50% to 30 million metres annually and Rs 78 crore to double liquid cooling assembly capacity to 30,000 units by March 2028.

  • Transrail Lighting is rising as it secures new orders worth Rs 408 crore, mainly for a gas-insulated substation EPC project in the MENA region. Its FY27 order intake now stands at Rs 2,429 crore.

  • Jitin Prasada, Minister of State for Electronics and IT, says India is formulating a policy for data centres, with the government aiming to prevent consumers from facing higher electricity costs amid growing global concerns over the sector’s power consumption. The move comes amid protests by residents in cities such as Mumbai and Visakhapatnam against data centres planned by Amazon and Google, citing concerns over water and electricity usage.

  • Canara Bank is rising sharply as its Q2FY27 net profit grows 8.4% YoY to Rs 5,174.8 crore, thanks to lower employee benefits expenses and provisions. Revenue increases 6% to Rs 40,931.2 crore, helped by improvements in the corporate and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline by 102 bps and 224 bps respectively.

  • SS Retail soars over 14% as its Q1FY27 net profit surges 60.7% YoY to Rs 23.9 crore, driven by premiumisation and inventory destocking. Revenue climbs 54.7% to Rs 770.4 crore, led by higher mobile sales and store expansion. It appears in a screener of stocks with zero promoter pledges.

  • Ahluwalia Contracts is rising as it secures an order worth Rs 310 crore from Bennett University to construct six institutional blocks at its Greater Noida campus. The project is to be completed within 22 months.

  • Gold and silver prices extend their decline as investors assess the outlook for US interest rates ahead of key inflation data. On the Multi Commodity Exchange (MCX), December gold futures slip below Rs 1,48,000 during the session, while silver futures fall by more than Rs 2,000 per kg. A stronger rupee also weighs on domestic gold prices.

  • Adani Power is rising as it receives a 25-year contract from Uttarakhand Power Corporation to supply 1,234 MW of thermal power.

  • Hero Motors is rising sharply as its Q1FY27 net profit soars 115.3% YoY to Rs 10.2 crore, supported by inventory destocking and a richer product mix. Revenue jumps 22.2% to Rs 322.6 crore, fueled by strong traction in the powertrain solutions and alloy & metallics segments. It features in a screener of stocks with increasing net cash flow and cash from operating activities.

  • Bank of Baroda is falling as NMC Healthcare founder Bavaguthu Raghuram Shetty reportedly approaches the Bombay High Court, seeking $15 billion in damages from the lender and 25 other defendants. Shetty alleges fund diversion from his group companies, ignoring money laundering alerts and accepting forged personal guarantees.

  • Nomura maintains a 'Buy' rating on ICICI Life Insurance with a higher target price of Rs 710. The brokerage expects momentum in non-participating products to strengthen further and anticipates the agency channel will outpace the company’s overall growth in the coming years. It also believes that distribution reforms are unlikely to have a material impact on the stock.

  • Aegis Logistics is rising as it agrees to acquire an 89.8% stake in Dubai-based Tristar Holdings for $809 million through its step-down subsidiary. The acquisition will transform Aegis from a largely India-focused operator into a global energy logistics platform, expanding its presence to over 30 countries, widening its service offerings and adding access to Tristar’s blue-chip customer network.

  • Hyundai Motor India is rising as it plans a $15.5 bn (~Rs 1.5 lakh crore) capex through 2032 for capacity expansion, R&D infrastructure development and supplier procurement. The company aims to set up an investment arm in India for the investment.

  • Zydus Lifesciences is falling as it receives a Form 483 with five observations from the US FDA after an inspection at its Ahmedabad manufacturing plant.

  • Axis Direct estimates Tech Mahindra’s Q2 PAT to grow 30.1% YoY to Rs 1,563 crore. Revenue is projected to increase 14% to Rs 15,948 crore, driven by deal ramp-ups, inorganic growth, and resilient demand across the BFSI and Manufacturing verticals. Operating margins are expected to expand by 240 basis points to 14.5%, despite wage hikes, supported by cost optimization measures and favourable currency movements.

  • Adani Enterprises signs a memorandum of understanding (MoU) with Jabil to form a 50:50 joint venture (JV) to manufacture and assemble AI and data centre equipment in India. The JV will produce AI racks, servers and storage systems.

  • Tata Elxsi is rising sharply as its Q2FY27 revenue grows 2.6% QoQ to Rs 1,090.6 crore, helped by traction across the transportation, media & communications and healthcare segments. However, net profit declines marginally by 0.2% to Rs 170.3 crore due to higher employee benefits, finance and depreciation & amortisation expenses. It features in a screener of stocks with increasing revenue over the past four quarters.

  • Transformers & Rectifiers (India) surges as its Q2FY27 net profit jumps 135.3% YoY to Rs 79.8 crore, supported by improved plant utilisation and operating leverage. Revenue increases 60.7% to Rs 739.4 crore, driven by better utilisation at its Changodar and Moraiya facilities during the quarter. The company appears in a screener of stocks with book value per share improving over the last two years.

  • Bharat Electronics secures orders worth Rs 533 crore for communication equipment, avionics, cybersecurity solutions, drones, jammers, software solutions, upgrades, spares and services.

  • Nifty 50 was trading at 22,684.80 (-37.2, -0.2%), BSE Sensex was trading at 73,049.76 (16.0, 0.0%), while the broader Nifty 500 was trading at 22,026.20 (-63.8, -0.3%).

  • Market breadth is in the red. Of the 2,247 stocks traded today, 940 were on the uptrend, and 1,208 went down.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (89.85, 8.3%), JSW Energy Ltd. (490.30, 6.5%) and Adani Energy Solutions Ltd. (1,364, 5.2%).

Downers:

Largecap and midcap losers today include Meesho Ltd. (226.60, -5.9%), Bank of Baroda (229, -4.0%) and Shriram Finance Ltd. (950, -3.9%).

Volume Shockers

21 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Transformers & Rectifiers (India) Ltd. (347, 14.1%), Elecon Engineering Company Ltd. (483, 9.8%) and IDBI Bank Ltd. (89.85, 8.3%).

Top high volume losers on BSE were Meesho Ltd. (226.60, -5.9%), Jupiter Wagons Ltd. (209.62, -3.1%) and Cholamandalam Financial Holdings Ltd. (1,380, -2.4%).

DCM Shriram Ltd. (1,039.35, 8.1%) was trading at 26.4 times of weekly average. Whirlpool of India Ltd. (831.55, 4%) and Tata Elxsi Ltd. (3,623.10, 5.7%) were trading with volumes 13.1 and 6.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks hit their 52 week highs, while 10 stocks hit their 52 week lows.

Stocks touching their year highs included - Bharat Heavy Electricals Ltd. (464, 4.9%), Leela Palaces Hotels & Resorts Ltd. (589.90, -1.9%) and Aditya Infotech Ltd. (4,423, 1.1%).

Stocks making new 52 weeks lows included - Fortis Healthcare Ltd. (750, -0.9%) and Indian Oil Corporation Ltd. (127.80, 1.3%).

27 stocks climbed above their 200 day SMA including Transformers & Rectifiers (India) Ltd. (347, 14.1%) and Elecon Engineering Company Ltd. (483, 9.8%). 6 stocks slipped below their 200 SMA including Piramal Finance Ltd. (1,940, -4.7%) and Bajaj Finance Ltd. (957, -2.6%).

 
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Trendlyne Marketwatch
13 Oct 2026
Market closes higher, led by gains in IT and realty stocks
By Trendlyne Analysis

Nifty 50 closed at 22,721.95 (358.6, 1.6%), BSE Sensex closed at 73,033.78 (1,109.1, 1.5%) while the broader Nifty 500 closed at 22,090 (267.3, 1.2%). Market breadth is in the green. Of the 2,849 stocks traded today, 1,638 showed gains, and 1,155 showed losses.

Indian indices closed in the green, supported by gains in IT and realty stocks. The Indian volatility index, Nifty VIX, fell 7.3% and closed at 14.1 points. India’s CPI inflation climbed to a 21-month high of 5.5% in September from 4.8% in August. Rising prices of onions and other essential food items contributed to the increase in retail inflation.

Nifty Midcap 100 closed higher, while Nifty Smallcap 100 closed flat. Nifty IT and BSE Focused IT were among the top index gainers today. According to Trendlyne’s Sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 4.7%.

Asian indices closed mixed, while European indices are trading higher. US index futures traded mixed. US President Donald Trump dismissed claims that China and Russia are providing significant support to Iran, arguing that both countries have “too much to lose” by assisting Tehran. Separately, a Houthi official warned of a “swift and painful” response if Washington joins Saudi Arabia’s strikes against the Iran-backed group, following Trump’s remarks that he is considering joining the offensive.

  • Relative Strength Index (RSI) indicates that stocks like Sky Gold & Diamonds and Shreeji Shipping Global are in the overbought zone.

  • Cohance Lifesciences receives approval from the Central Government to appoint Umang Vohra as the Chairman and Chief Executive Officer (CEO).

  • Nazara Technologies' founder and Managing Director (MD), Nitish Mittersain, tenders his resignation as the MD, effective October 12.

  • Prestige Estates is rising as it reports a 20% YoY increase in Q2FY27 pre-sales, supported by strong demand for new residential projects and steady sales from existing developments. Bengaluru and Hyderabad remain key markets, together accounting for 73% of H1FY27 sales. The company plans to launch projects worth over Rs 40,000 crore across Bengaluru, Mumbai, NCR, Chennai and Hyderabad in H2FY27.

  • ICICI Life Insurance is falling as its Q2FY27 revenue declines 2.3% YoY to Rs 11,742.7 crore due to a Rs 2,123.3 crore loss from investments. However, net profit jumps 25% to Rs 374.2 crore, fueled by lower provisions and taxes on unit-linked insurance plan (ULIP) charges. It shows up in a screener of stocks with low Piostroski scores.

  • Indian equities rally, with the Sensex climbing over 1,000 points as Finance Minister Nirmala Sitharaman indicates that discussions on long-term capital gains tax (LTCG) and securities transaction tax (STT) remain underway. Her remarks spark fresh optimism among investors seeking relief after weeks of market pressure.

  • Aequs enters into agreements with Safran for the long-term supply of critical aerospace components. Under the agreements, Aequs will provide machined superalloy parts, complex machine coating, and landing gear component assemblies for the Airbus A320, A330, A350 and Boeing 787 programs.

  • Karur Vysya Bank is rising as it signs an agreement with Zurich Kotak General Insurance, a 70:30 joint venture between Zurich Insurance Group and Kotak Mahindra Bank, to distribute general insurance products. The partnership could help increase the bank's fee income. KVB earned Rs 195.4 crore from insurance distribution in FY26, up 20.3% YoY, including Rs 36.9 crore from general insurance.

  • ICICI Securities upgrades Gujarat Fluorochemicals to a 'Buy' call from 'Add' with a higher target price of Rs 5,380 per share. This indicates a potential upside of 18.8%. The brokerage turns positive on the stock, driven by its first-mover advantage in battery chemicals, in-house access to hydrofluoric acid and expertise in processing fluorine. It expects the firm to deliver a revenue CAGR of 33.9% over FY27-29.

  • India’s CPI inflation climbs to a 21-month high of 5.5% in September from 4.8% in August. Rising prices of onions and other essential food items contributed to the increase in retail inflation. Meanwhile, core inflation, which excludes volatile components such as food and fuel, accelerated to 4.6% in September from 4.2% in August.

  • Motilal Oswal Mutual Fund sells 46.2 lakh shares of Religare Enterprises for Rs 99.8 crore through a bulk deal at an average price of Rs 216.1 per share. Dalmia Bharat Refractories picks up 36.6 lakh shares.

  • ICICI Direct retains a 'Buy' call on Radico Khaitan, with a higher target price of Rs 5,500 per share. This indicates a potential upside of 22.4%. The brokerage believes that the strong traction in premium and luxury brands will drive revenue and margin growth visibility. It expects the company to deliver a revenue CAGR of 16% over FY27-29.

  • Tata Motors Passenger Vehicles and its arm, Tata Passenger Electric Mobility, enter a partnership with Stellantis India to produce vehicles in India using Tata's platforms. Under the agreement, Tata will provide Stellantis with its product technology and vehicle architecture. The vehicles will be manufactured at Stellantis & Tata's joint venture (JV), Fiat India Automobiles.

  • The IMF raises India’s GDP growth forecast for FY27 to 7%, up from its earlier estimate of 6.4%, citing stronger-than-expected domestic demand and robust services activity that have helped cushion the impact of global disruptions. It also revises its FY28 growth projection upward to 7% from 6.7%, indicating that the economy’s current growth momentum is likely to continue into the next financial year.

  • Bandhan Bank is rising sharply as Abu Dhabi-based IHC and other investors are reportedly in talks to buy a stake in the promoter, Bandhan Financial Services. The promoter is in discussions with advisor Jefferies to find investors for a 25-32% stake. It will facilitate an exit option for early investors like GIC of Singapore and the International Finance Corp.

  • ICICI Prudential Asset Management Co's Q2FY27 net profit grows 6.4% YoY to Rs 889 crore, helped by higher operating leverage. Revenue jumps 13.4% to Rs 1,690.7 crore, driven by higher fee income, equity-oriented schemes and strong investor flows. It appears in a screener of stocks with increasing revenue over the past four quarters.

  • Polycab India is falling sharply as the NSE excludes the stock from the equity derivatives segment, effective December 30. The move comes as the company was admitted to the insolvency and bankruptcy (IBC) framework by the National Company Law Appellate Tribunal (NCLAT) in a case filed by Asier Metals.

  • Citi, in partnership with Belgium’s Credendo, reportedly arranges $328 million in financing for IndiGo to acquire eight Airbus aircraft-six A321s and two A320s-through its GIFT IFSC subsidiary. The deal supports IndiGo’s fleet expansion and growing domestic and international travel demand through diversified funding sources.

  • Vikran Engineering soars almost 14% as its subsidiary, NOPL Solar Projects, secures a Rs 2,941.2 crore loan from Indian Renewable Energy Development Agency (IREDA) to partially fund its 969 MW solar project.

  • Kolte-Patil Developers is rising as its Q2FY27 sales value increases by 52% YoY to Rs 1,019 crore, driven by strong demand for its new project, Vyana at The Reserve, in Pune. The project generated Rs 616 crore in sales during the quarter. Collections rise 33% to Rs 795 crore. The company also added six redevelopment projects in Mumbai with a combined development value of Rs 6,000 crore.

  • Qualcomm Asia Pacific sells 57.1 lakh shares of Shadowfax Technologies for Rs 157.3 crore through a bulk deal at an average price of Rs 275.3 per share.

  • The IMF projects global economic growth of 3.1% in 2026, with strong investment in AI infrastructure helping offset the impact of the prolonged Middle East war and elevated energy prices. The forecast is below the 3.5% growth recorded in 2025 but broadly aligns with the fund’s most optimistic scenario outlined in April.

  • Ircon International is rising as it secures an order worth Rs 862.5 crore from East Central Railway to construct railway lines in Bihar and Jharkhand.

  • RBL Bank is falling sharply as its Q2FY27 provisions jump 53.4% YoY to Rs 766.5 crore due to loan slippages from credit cards, personal loans and microfinance. However, net profit soars 2.6x to Rs 498.3 crore during the quarter. Revenue climbs 21.6% to Rs 5,401.7 crore, supported by higher traction in the treasury operations, corporate & retail banking segments. The bank's asset quality improves as its gross and net NPAs decline 130 bps and 28 bps, respectively.

  • Kalpataru Projects International secures new orders worth Rs 2,225 crore in its power transmission and distribution business. This includes orders and a letter of comfort worth Rs 2,031 crore across India and international markets, along with a Rs 194 crore order secured by its Swedish subsidiary, Linjemontage.

  • HCL Technologies is rising as its Q2FY27 net profit jumps 11% QoQ to Rs 5,132 crore, helped by an increased share of higher-margin advanced AI. Revenue grows 2.6% to Rs 35,854 crore, owing to higher IT, advanced AI and business services demand. Separately, HCL Tech partners with Anthropic to use Claude to accelerate enterprise adoption of agentic AI.

  • Nifty 50 was trading at 22,436.95 (73.6, 0.3%), BSE Sensex was trading at 71,951.73 (27.1, 0.0%), while the broader Nifty 500 was trading at 21,830.70 (8.0, 0.0%).

  • Market breadth is in the red. Of the 2,254 stocks traded today, 825 showed gains, and 1,338 showed losses.

Riding High:

Largecap and midcap gainers today include HCL Technologies Ltd. (1,326, 8.4%), Tata Consultancy Services Ltd. (2,269.30, 6.8%) and Shriram Finance Ltd. (988, 6.3%).

Downers:

Largecap and midcap losers today include ICICI Life Insurance Ltd. (447, -3.5%), Hitachi Energy India Ltd. (30,250, -3.3%) and Schaeffler India Ltd. (3,610, -2.2%).

Volume Rockets

19 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Bandhan Bank Ltd. (172, 9.2%), Birlasoft Ltd. (296.90, 8.8%) and HCL Technologies Ltd. (1,326, 8.4%).

Top high volume losers on BSE were RBL Bank Ltd. (388.05, -7.1%), ICICI Life Insurance Ltd. (447, -3.5%) and Schaeffler India Ltd. (3,610, -2.2%).

Ircon International Ltd. (105.91, 1.1%) was trading at 10.6 times of weekly average. eClerx Services Ltd. (1,974, 5.9%) and Brainbees Solutions Ltd. (177.90, 5.2%) were trading with volumes 5.2 and 5.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks hit their 52 week highs, while 21 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - PVR INOX Ltd. (1,408.40, 0.5%), PNB Housing Finance Ltd. (1,224.80, 2.1%) and PTC Industries Ltd. (25,385, -1.3%).

Stocks making new 52 weeks lows included - Balkrishna Industries Ltd. (1,998.70, 0.1%) and Bata India Ltd. (615, 0.9%).

14 stocks climbed above their 200 day SMA including Tech Mahindra Ltd. (1,543.50, 4.9%) and Mphasis Ltd. (2,466.30, 4.8%). 14 stocks slipped below their 200 SMA including Maharashtra Seamless Ltd. (591.80, -2.5%) and Poonawalla Fincorp Ltd. (438.50, -2.4%).